Ethereum Continues to Struggle—Does ERC20 Token Gorilix (SILVA) Offer Hope?
Ethereum’s (ETH) recent struggles are well-enough known. Down another 6% this week, the second-largest cryptocurrency by market capitalization is fast approaching its current support level of $1,050. But could an upcoming ICO provide some reason to believe in the broader Ethereum ecosystem? In the midst of a resiliently successful pre-sale, Gorilix (SILVA) has begun to attract serious attention ahead of its September IDO.
The same market trends have characterized the world’s leading cryptocurrencies over the last year. Following remarkably similar charts, Bitcoin (BTC) has lost nearly 40% of its value over the last 12 months, while Ethereum’s slump has been just a few percentage points more severe.
Ethereum’s blockchain hosts many highly capitalized tokens along with its native ETH, and the most prominent of these have shared ETH’s struggles. Many have lost even more value than ETH itself. MonaCoin (MONA), for instance, is down more than 60% over the last year, and nearly 2% this week alone. Bitfinex token UNS SED LEO (LEO) is down nearly 9% over the last week.
But a few tokens on the Ethereum blockchain have bucked the trend. Solana (SOL), once touted as an “Ethereum killer,” is up nearly 16% over the last year. Despite an 8% slide this week, SOL has risen more than 18% over the last 30 days—while ETH fell by nearly 11%.
The real promise in a highly unsettled market, though, may lay with emerging coins whose use cases and value propositions are geared toward resilient value even during downturns in the broader crypto sphere. Gorilix has poised itself as a leader of that untested but increasingly popular group.
While its name might suggest another Dogecoin (DOGE) or Shiba Inu (SHIB), Gorilix was conceived with a more traditional focus than those memecoins. SILVA seeks to facilitate the meat-and-potatoes functions of any financial system: lending, borrowing, and compound interest.
In effect, holdings of SILVA turn any investor into a bank, free to lend tokens on mutually agreed terms, and to borrow using their decentralized, cross-chain Gorilix wallets. Users who choose not to leverage their holdings can still benefit from the platform’s rewards system, which pays interest in response to fluctuations in price and liquidity.
With the end of its presale’s first stage clearly in sight, Gorilix has posted a commanding 230% gain since its debut. In doing so, it has shrugged off both the broader crypto industry’s recent malaise and the value-damping effects of excessive liquidity. As with many cyrpto presales, Gorilix plans to curtail SILVA’s availability in the presale’s final two rounds. With reduced supply will come a strong incentive for even higher valuation.
That’s simple economics—and another example of how Gorilix may be plotting a path toward the next big surge of crypto valuation by focusing on the fundamentals.
SILVA is available exclusively via the Gorilix Defi website.
To buy your SILVA tokens or learn more about Gorilix DEFI, visit https://gorilix.io.
To register for the presale: https://cabinet.gorilix.io/sign-up
To join Gorilix on Telegram, Twitter & Instagram: https://linktr.ee/Gorilix
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